AcelRx Pharmaceuticals Inc (NASDAQ: ACRX) is having an incredibly strong start to the trading session this morning, but if you’re looking for press releases or SEC filings, you’re not going to find anything issued today. Nonetheless, we believe that we know the reason for the gains. Today, we’ll talk about:
- Why ACRX stock is headed up;
- what we’re seeing in the market; and
- what we’ll be watching for ahead.
Here’s Why ACRX Is Gaining
As mentioned above, AcelRx Pharmaceuticals is having an incredibly strong start to the trading session, but there has been no news released today by the company. Nonetheless, there’s a very good reason for the gains.
In a press release issued on Friday, the company announced that the Anesthetic and Analgesic Drug Products Advisory Committee of the United States Food and Drug Administration has recommended the approval of DSUVIA™ for the management of moderate-to-severe acute pain in medically supervised settings for adult patients. The Advisory Committee vote ended with 10 for and 3 against approval of the ACRX candidate.
In a statement, Dr. Pamela Palmer, Co-Founder and CMO at ACRX, had the following to offer:
We are pleased with the Advisory Committee’s recommendation to approve DSUVIA as a treatment in medically supervised settings for adults experiencing moderate-to-severe acute pain… We look forward to continued collaboration with the FDA on the application as we believe DSUVIA represents an important non-invasive acute pain management option with potential to significantly improve the current standard of care.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. While there has been no news released today, late Friday news often moves the market on Monday. In the case of AcelRx, the news proved to be overwhelmingly positive. After all, with the Advisory Committee recommending approval, the chances of approval are greater. So, it comes as no surprise that excited investors are sending the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:05), ACRX is trading at $4.66 per share after a gain of $0.68 per share or 16.96% thus far today
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ACRX. In particular, we’re interested in following the NDA surrounding DSUVIA. After all, with the positive advisory committee vote, there’s a good chance of approval ahead. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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